TORONTO, May 15, 2013 /CNW/ - Summit Industrial Income REIT ("Summit II") (TSXV: SMU.UN) is pleased to announce a $0.0408 per Unit distribution for May 2013. The distribution will be paid on June 14, 2013 to Unitholders of record on May 31, 2013.
Summit II recently adopted an amended and restated distribution reinvestment plan ("DRIP") whereby residents of Canada may elect to have their cash distributions reinvested in additional units of Summit II. Summit II has reserved 1,801,311 units for issuance under the DRIP, and as of the date of this news release, insiders holding approximately 2.9% of the outstanding units of Summit II participate in the DRIP.
About Summit II
Summit II is an open-ended mutual fund trust focused on growing and managing a portfolio of light industrial properties across Canada. Summit II's units are listed on the TSX Venture Exchange and trade under the symbol SMU.UN. For more information, please visit our web site at www.summitIIreit.com.
Caution Regarding Forward Looking Information
This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends", "goal" and similar expressions are intended to identify forward-looking information or statements. More particularly and without limitation, this news release contains forward looking statements and information concerning Summit II's distributions and the DRIP. The forward-looking statements and information are based on certain key expectations and assumptions made by Summit II. Although Summit II believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward looking statements and information because Summit II can give no assurance that they will prove to be correct. By its nature, such forward-looking information is subject to various risks and uncertainties, which could cause the actual results and expectations to differ materially from the anticipated results or expectations expressed. These risks and uncertainties include, but are not limited to, market conditions, tenant risks, current economic environment, environmental matters, general insured and uninsured risks and Summit II being unable to obtain any required financing and approvals. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof, and to not use such forward looking information for anything other than its intended purpose. Summit II undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Summit Industrial Income REIT
For further information:
Paul Dykeman, CEO at (902) 405-8813